What can I deduct for my meals and Travel as a Truck Driver and what is the new Per Diem Rate in 2015?
One of the big questions I get from truck drivers all across America is “what can I claim for my per diem this year?” While self-employed individuals can generally deduct any expenses incurred to earn their income, company drivers are limited to non-reimbursed expenses required by their employer. You are entitled to per diem for overnights and motel expenses. A good rule to follow for deductions would be any expenses incurred that are necessary or required in the performance of your job and/or operation of the truck but are not reimbursed by your company, such as uniforms, gloves, logbooks, maps, cell phone, CB, tools, Windex, paper towels, showers, etc. Remember, as a company driver, these deductions are only available if you itemize and are not available if you take the standard deduction.
The per diem rate for meals on October 1, 2015 changed to $63 per day. It stayed at 80%.
The per diem rate for meals in 2014 was 80% of $59 per day.
The per diem rate for meals in 2013 was 80% of $59 per day.
The per diem rate for meals in 2012 was 80% of $59 per day.
The per diem rate for meals in 2011 was 80% of $59 per day.
The per diem rate for meals in 2010 was 80% of $59 per day.
The per diem rate for meals in 2009 was 80% of $52 per day.
The per diem rate for meals in 2008 was 80% of $52 per day.
The per diem rate for meals in 2007 was 75% of $52 per day.
The per diem rate for meals in 2006 was 75% of $52 per day.
The per diem rate for meals in 2005 was 70% of $41 per day.
The per diem rate for meals in 2004 was 70% of $41 per day.
The per diem rate for meals when in Canada in 2015 is 80% of $65 per day.
Per Diem can only be taken when the driver spends the night away from home. You must be an over the road driver. Getting home every night does not qualify you for this per diem. The full per diem amount of $59.00 per day in 2014 and $63.00 per day from October 1, 2015 into 2016 can only be used on days that you are away from home 24 full hours, On partial days that you leave home or return home you can deduct .75 X $59 = $44.25 per day. There is a more complicated formula for those who would want to use the exact percentage of the day that you are gone from home. Or you can just use the .75 for all partial days. You count your log book days out and multiply by $59 per day before October 1 2015, and $63 per day October 1, 2015 and later and enter this number in Meals and Entertainment Expense. Be sure if you do this on your own to update to the 80% as the standard amount in most Software is set to 50%. If your company pays Per Diem you then need to subtract what they paid from the rate you are entitled to for the year and enter this new number instead. Remember that we handle the time and trouble that is dealing with the IRS. If you would like some professional assistance calculating and preparing these return – please call us! We specialize in helping Truck Drivers all across the Country with their taxes! Contact Us! You can ask for me, or Eric, Or even Amy – she is kinda awesome!
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